Chickasaw Capital Management LLC Buys 31,663 Shares of Hess Midstream Partners LP $HESM

Key Points

• Chickasaw Capital Management LLC increased its stake in Hess Midstream Partners by 36.4%, now holding 118,663 shares valued at approximately $4.57 million.
• Hess Midstream Partners has reported a quarterly EPS of $0.74, surpassing analyst expectations, with a year-over-year revenue growth of 13.3% to $414.20 million.
• The company declared a quarterly dividend of $0.737, an increase from the previous dividend, reflecting a 7.5% yield based on its current share price.

Chickasaw Capital Management LLC lifted its stake in shares of Hess Midstream Partners LP (NYSE:HESM - Free Report) by 36.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,663 shares of the company's stock after buying an additional 31,663 shares during the quarter. Chickasaw Capital Management LLC owned about 0.06% of Hess Midstream Partners worth $4,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of HESM. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Hess Midstream Partners during the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hess Midstream Partners during the 1st quarter worth approximately $31,000. Farther Finance Advisors LLC grew its position in shares of Hess Midstream Partners by 840.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,053 shares of the company's stock worth $45,000 after buying an additional 941 shares during the period. FSC Wealth Advisors LLC acquired a new stake in Hess Midstream Partners in the 1st quarter valued at $58,000. Finally, IFP Advisors Inc grew its position in Hess Midstream Partners by 20.0% in the 1st quarter. IFP Advisors Inc now owns 3,520 shares of the company's stock valued at $149,000 after purchasing an additional 586 shares during the period. Institutional investors and hedge funds own 98.97% of the company's stock.

Insider Transactions at Hess Midstream Partners

In other Hess Midstream Partners news, COO John A. Gatling sold 62,457 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $41.59, for a total value of $2,597,586.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hess Midstream Partners Price Performance

HESM traded down $4.07 during midday trading on Friday, hitting $35.41. The stock had a trading volume of 6,833,386 shares, compared to its average volume of 1,146,801. The business has a fifty day moving average of $40.60 and a 200 day moving average of $39.43. Hess Midstream Partners LP has a 1 year low of $33.59 and a 1 year high of $44.14. The company has a debt-to-equity ratio of 7.26, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $7.44 billion, a P/E ratio of 13.11 and a beta of 0.68.

Hess Midstream Partners (NYSE:HESM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. The firm had revenue of $414.20 million during the quarter, compared to the consensus estimate of $405.08 million. Hess Midstream Partners had a net margin of 18.52% and a return on equity of 60.37%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. As a group, equities analysts forecast that Hess Midstream Partners LP will post 2.5 earnings per share for the current fiscal year.

Hess Midstream Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.737 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 8.3%. This is a positive change from Hess Midstream Partners's previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 7th. Hess Midstream Partners's dividend payout ratio is currently 109.26%.

Analyst Upgrades and Downgrades

HESM has been the subject of several research reports. Morgan Stanley initiated coverage on shares of Hess Midstream Partners in a research report on Friday, July 25th. They issued an "equal weight" rating and a $48.00 price target for the company. Wells Fargo & Company downgraded shares of Hess Midstream Partners from an "equal weight" rating to a "reduce" rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on Hess Midstream Partners from $44.00 to $46.00 and gave the stock a "neutral" rating in a research note on Friday, August 22nd. Wall Street Zen upgraded Hess Midstream Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Citigroup restated a "neutral" rating and issued a $41.00 price objective (down from $42.00) on shares of Hess Midstream Partners in a research note on Thursday, September 11th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $43.67.

Hess Midstream Partners Company Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.